Back Is Digital Gold a Safe Investment to Create Long-Term Wealth?
India loves its gold, whether through the lens of investment or as a symbol of legacy. India also currently has a sizable majority of the world’s millennial populace. The conjunction of these two important factors – somewhat like a marriage between the traditional investment mantras and the adoption of a technology-driven lifestyle – has given digital gold a favorable arena to grow.
Digital gold allows investors the same benefits of owning physical gold without the stress of authenticating its purity or worrying about its safety. Additionally, it eliminates the reduced returns associated with the depreciating value of gold in the form of jewelry.
Benefits of Digital Gold Ownership
● Hassle-free
Contrary to investing in physical gold that runs through the cycle of purchase and scouting for gold lockers for storage, owning digital gold eliminates numerous steps as the onus falls upon the provider. As the provider takes care of storage and safety and, in most cases, bear the convenience and other associated fee, owning and investing in digital gold becomes a quick and hassle-free experience.
● Convenience
Besides the convenience of ownership, digital gold is also much easier to buy and resell. With a tap on the screen, you can complete these transactions anytime and anywhere.
● Profitable
Buying physical gold poses the challenge of purity assessment and the added cost of commission and making charges, as these long-term assets are bought from dealers. MMTC-PAMP’s Digital gold carries its 24K, 999.9 authentic purity grade and eliminates the middleman, thereby comparatively making it a more profitable choice.
Should Digital Gold be a Valuable Player in Your Long Term Investment Plan?
The flexibility to buy and sell digital gold at any time and from anywhere has made it the choice of investment for digital natives looking to both experiment in the short term as well as draft their long-term investment portfolio.
Also, the younger generation looks at making investment decisions at opportune moments rather than auspicious days. This heralds the need for quicker transactions – that would otherwise not have been possible with physical gold – and has prompted netizens to quickly warm up to the idea of investing in digital gold.
Gold investments have throughout the years been touted to be a resilient and stable option and have found a favorable place in portfolios spanning generations. While the way the invested gold is held is changing, investment in gold, per se, is unlikely to go out of style, especially for those looking to include it in their long-term wealth-building kitty.
With the pandemic re-shifting the focus back to gold investments amidst the volatility of the stock market and digitization making the process convenient, secure, and safe, gold investment providers are seeing an influx of investors on their platforms.
As the average age of the investors keeps changing, so will their preferred way of investing. And while investment in gold will always hold value in every portfolio, as gold will continue to remain a profitable instrument reaping long-term gains, the traditional models of gold investment will soon be rendered obsolete with the evolution of technology. Considering investing in digital gold to build long-term wealth is a much smarter and safer move for digital natives opting for a trusted instrument in the comfort of the familiar digital space.
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What is Gold Accumulation Plan (GAP)?
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Sep 23, 2022 7:03 AM
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null {} null What is Gold Accumulation Plan (GAP)? The GAP allows you to purchase gold using your Partner Platform account. The minimum transaction value across different platform varies from INR1...
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What is live gold price
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Sep 23, 2022 9:39 AM
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null {} null What is live gold price? Live gold price means the gold rate in Indian Rupees (INR) per gram of (999.9) fine gold as posted from time to time, exclusive of product manufacturing/making...
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What is open sale back window
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Sep 23, 2022 9:42 AM
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null {} null What is open sale back window? Open sale back window is the period during the customer can place request for sale of their digital gold. MMTC-PAMP reserves the right to close the open...
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Is the partner platform legally allowed to sell gold on their platform
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Sep 23, 2022 9:45 AM
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null {} null Is the partner platform legally allowed to sell gold on their platform? The seller is MMTC-PAMP India, India’s largest gold refinery. Partner Platform is only providing a platform for...
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Who is the custodian of my gold till redemption
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Sep 23, 2022 9:46 AM
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null {} null Who is the custodian of my gold till redemption? At no point does the ownership of your accumulated Gold transfers to either Partner Platform or MMTC-PAMP. MMTC-PAMP is the custodian...
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Is there any frequency at which I need to make transactions to keep my account active Alternatively, what makes my account inactive
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Sep 23, 2022 9:49 AM
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null {} null Is there any frequency at which I need to make transactions to keep my account active? Alternatively, what makes my account inactive? No. The customer does not have to do transactions...
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How can I get my holding statement
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Sep 23, 2022 9:50 AM
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null {} null How can I get my holding statement? You can get your gold holding statement by logging in to the partner platform. Please reach out to your partner platform in case of difficulty in...
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Can I have a joint account for this plan
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Sep 23, 2022 9:51 AM
Web Content Article
null {} null Can I have a joint account for this plan? Joint account is not permitted for the GAP plan. null {}
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Can minors buy digital gold online
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Sep 23, 2022 9:53 AM
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null {} null Can minors buy digital gold online? Minors are not eligible to buy or sell digital gold online. null {}
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Are my gold account details shared with any tax authorities
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Sep 23, 2022 9:54 AM
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null {} null Are my gold account details shared with any tax authorities? No. Only, in case of any enquires by government authorities, we will have to provide the requested information. null {}
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In case I relocate to outside India, can I continue accumulating Gold
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Sep 23, 2022 9:55 AM
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null {} null In case I relocate to outside India, can I continue accumulating Gold? You can choose to accumulate digital gold after relocating to outside India at your own risk. MMTC-PAMP does not...
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What tax implications do I have, if I accumulate gold on partner platform
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Sep 23, 2022 10:07 AM
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null {} null What tax implications do I have, if I accumulate gold on partner platform? At the time of purchasing and redeeming Gold, all applicable taxes are included in your invoice. The taxes...
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Can I visit the vault to inspect my Gold physically
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Sep 23, 2022 10:08 AM
Web Content Article
null {} null Can I visit the vault to inspect my Gold physically? No. The vault contains the gold holdings of all customers of MMTC-PAMP. Individuals cannot be allowed to visit the vault for...
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How do I open my account for GAP
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Sep 23, 2022 10:09 AM
Web Content Article
null {} null How do I open my account for GAP? Customer needs to register themselves on Partner Platform by providing name, PIN code and mobile number. Partner platforms may have their own specific...
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Do I require to complete my KYC to open my GAP account
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Sep 23, 2022 10:09 AM
Web Content Article
null {} null Do I require to complete my KYC to open my GAP account? MMTC-PAMP does not require the customer to complete KYC to open GAP account or buy digital gold. However, partner platforms can...
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What are the registration fees for GAP
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Sep 23, 2022 10:10 AM
Web Content Article
null {} null What are the registration fees for GAP? There is no registration fee to open a GAP account. Any valid Partner Platform account holder can open a GAP account. null {}
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What should I do, in case of fraud on my digital gold account
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Sep 23, 2022 10:13 AM
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null {} null What should I do, in case of fraud on my digital gold account? You are responsible for keeping your Partner Platform account details in a secure manner corresponding to existing...
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How can I be assured that gold coins delivered to me are genuine and trustworthy
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Sep 23, 2022 10:13 AM
Web Content Article
null {} null How can I be assured that gold coins delivered to me are genuine and trustworthy? The gold coins are directly dispatched from MMTC-PAMP manufacturing unit. All the coins are delivered...
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How can I trust that the delivery will be made to the correct person
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Sep 23, 2022 10:14 AM
Web Content Article
null {} null How can I trust that the delivery will be made to the correct person? Before the delivery is attempted, customer will be sent an OTP on the registered mobile number by the logistic...
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Who will you deliver to, in case I did not respond
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Sep 23, 2022 10:15 AM
Web Content Article
null {} null Who will you deliver to, in case I did not respond? We can only deliver to the designated person as mentioned at the time of placing the delivery request. null {}
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In case of any natural disaster, if the gold in MMTC-PAMP vault is destroyed or in case of theft, will I lose all the money used in buying my accumulated gold
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Sep 23, 2022 10:19 AM
Web Content Article
null {} null In case of any natural disaster, if the gold in MMTC-PAMP vault is destroyed or in case of theft, will I lose all the money used in buying my accumulated gold? No. You will not lose...
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How do I buy digital gold
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Sep 23, 2022 10:24 AM
Web Content Article
null {} null How do I buy digital gold? You can make an offer to buy Gold at the rate displayed on the Partner Platform in either rupees or grams. For example, you can buy gold worth INR1 and above...
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How often does the live price change
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Sep 23, 2022 10:25 AM
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null {} null How often does the live price change? The live rate changes based on market conditions and is updated frequently. null {}
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How long is the live price valid for completing a transaction
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Sep 23, 2022 10:26 AM
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null {} null How long is the live price valid for completing a transaction? The live price, at which you choose to buy Gold, will be valid for 5-7 minutes from the time you click on the option to...
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After purchasing digital gold, when can I see gold grams credit into my gold account
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Sep 23, 2022 10:27 AM
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null {} null After purchasing digital gold, when can I see gold grams credit into my gold account? After making the payment, when MMTC-PAMP accepts your offer to buy, you will receive an invoice...
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What if my money gets debited but I don’t receive gold into my gold account
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Sep 23, 2022 10:33 AM
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null {} null What if my money gets debited but I don’t receive gold into my gold account? In the rare event of technical failure, MMTC-PAMP may reject your offer to buy. The amount paid by you will...
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Is there a restriction on the amount of gold that can be purchased in a day
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Sep 23, 2022 10:34 AM
Web Content Article
null {} null Is there a restriction on the amount of gold that can be purchased in a day? The maximum limit to buy gold in a single day is INR 2 lakhs. The value of a single transaction or...
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Can I cancel my gold purchase
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Sep 23, 2022 10:35 AM
Web Content Article
null {} null Can I cancel my gold purchase? Once MMTC-PAMP has accepted your offer to buy, cancellations or refunds are not allowed. You can however sell your gold back to MMTC-PAMP 72 hours after...
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What modes of payments are accepted
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Sep 23, 2022 10:36 AM
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null {} null What modes of payments are accepted? Customers can make the payment through different digital payment modes like net banking, UPI, debit/credit cards as accepted on the partner...
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How do I sell the gold I have accumulated
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Sep 23, 2022 10:47 AM
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null {} null How do I sell the gold I have accumulated? When the sale back window (open sale back window) is active, you can offer to sell your Gold accumulated on Partner Platform in either Rupees...
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Why is the ‘sell price’ lower than ‘buy price’
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Sep 23, 2022 10:48 AM
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null {} null Why is the ‘sell price’ lower than ‘buy price’? Gold like any other commodity, which is tradable has a buy-sell spread. The spread for Digital Gold buy and sell transactions is due to...
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How do I redeem my gold
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Sep 23, 2022 10:49 AM
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null {} null How do I redeem my gold? You can select the quantity and denomination of the gold you wish to redeem from the available options of coins on the Partner Platform. You can request for...
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What are making and delivery charges
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Sep 23, 2022 10:51 AM
Web Content Article
null {} null What are making and delivery charges? Making charges are the costs of manufacturing/minting Gold into a coin. This includes the cost of packaging the coin in tamper proof Certicards....
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Can I put in a different address from the one I used at the time for registering for the plan
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Sep 23, 2022 10:52 AM
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null {} null Can I put in a different address from the one I used at the time for registering for the plan? Yes. You can enter a different address. However, if this pin code does not fall in our...
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Is it possible after choosing a product, I get intimation saying the product is out of stock? In such as case, what do I do
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Sep 23, 2022 10:53 AM
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null {} null Is it possible after choosing a product, I get intimation saying the product is out of stock? In such as case, what do I do? The charges paid by you at the time of redemption will be...
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When will I receive the delivery
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Sep 23, 2022 10:54 AM
Web Content Article
null {} null When will I receive the delivery? You will be intimated about the expected delivery time, at the time of placing the order. The product will be delivered to you within 14 working days...
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Is it possible to store my redeemed gold coins and bars in safe custody and have them delivered later
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Sep 23, 2022 10:56 AM
Web Content Article
null {} null Is it possible to store my redeemed gold coins and bars in safe custody and have them delivered later? Once you place a redemption request, you have to accept the delivery made to you....
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What happens in case I receive a different product or damaged goods
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Sep 23, 2022 10:57 AM
Web Content Article
null {} null What happens in case I receive a different product or damaged goods? MMTC-PAMP explicitly urges to all its customers to inspect the package for any damage or tamper before receiving or...
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Who is responsible in case my Gold is not delivered to my address
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Sep 23, 2022 10:58 AM
Web Content Article
null {} null Who is responsible in case my Gold is not delivered to my address? MMTC-PAMP will be responsible. Customers need to contact the customer service of Partner Platform for any support....
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What if my gold balance gets debited but I don’t receive money into my partner platform account
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Sep 23, 2022 10:59 AM
Web Content Article
null {} null What if my gold balance gets debited but I don’t receive money into my partner platform account? The partner platform or MMTC-PAMP will retry payment to account shared with your...
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